KUALA LUMPUR: The Urban Wellbeing, Housing and Local Government Ministry’s People's Housing Project (PPR) rent-to-own scheme is only offered to applicants who fail to get financing from any financial institutions.
Its deputy minister Datuk Halimah Mohamed Sadique said applicants who were offered the PPR’s rent-to-own scheme units would be put on probation for two years before entering the said scheme.
“At this juncture, the ministry has implemented the rent-to-own concept in PPR Gua Musang, numbering 1,000 units. Our latest rent-to-own scheme, with 300 PPR units, is in Taman Danau at Kampung Hassan, Ulu Bernam,” she told the Dewan Rakyat today.
Halimah (BN-Tenggara) said the rent-to-own units for PPR Lembah Subang 2 and PPR Ladang Siliau will be implemented soon.
There are two types of PPR - to be rented and to be owned.
“After the completion of a PPR project, it will be submitted to the state government. If it will be sold, the rent-to-own scheme will be applied,” she said.
Halimah said up to March 10, two PPR projects in Kedah totalling 1,894 units have been completed.
“From four PPR projects, 1,728 units are under construction while one project with 500 PPR units are being planned,” she said.